Let us decouple them in simple terms:
- Blockchain is a technology, just like noSQL database. One can think of it as a singly linked list data structure which keeps on growing as the nodes (blocks) keeps adding up. With few assumptions:
- The data in the nodes can not be altered once it gets added in the linked list.
- There is only write and read operation in the singly linked list, no update or delete.
- The singly linked list is store in a distributed environment, that is across n number of participants. Participants can come and go at anytime, just like torrent network.
- All the participants in the network shares the same linked list.
- All the participants in the network can write their node(block) in the linked list, but has to solve a mathematical puzzle before gaining access to write operation.
- The participant who adds a new node(block) in the linked list(chain) is rewarded.(e.g. in bitcoin network miners get digital currency i.e. bitcoin) .
- If there happens to be a collision between 2 or more participants for addition of new node(block) which creates a race condition. In such scenario they will keep solving the puzzle for next block to be added. And finally only the linked list(chain) with the longest valid nodes(blocks) all the accepted by all the participants.
- Thus, the linked list keeps growing and all the participants are happy processing(mining) as they keep getting some reward.
- Bitcoin is a cryptocurrency(A digital currency which has a cryptographic touch on it). Precisely it is an application built using blockchain technology. But funny thing is, it was only after bitcoin implementation(white paper) the blockchain technology came into existence. Thus, being an application it was built for a purpose. And bitcoin is not different, it was built and designed for one purpose only transaction processing between two parties using it's own digital currency. In addition to that, it had few other tweaks to it:
- The total supply of bitcoin is limited to 21 million.
- One has to mine to earn new bitcoins.
- As per current mining puzzle, it takes approximately 10 mins to added a new block in bitcoin blockchain.
Hope, it decoupled to some extent. Besides, if you wanna get it all clear try through this one: anders.com/blockchain